Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) Short Interest Update

Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 18,265 shares, a drop of 32.6% from the June 30th total of 27,089 shares. Based on an average trading volume of 35,978 shares, the short-interest ratio is presently 0.5 days. Currently, 2.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PPBT. Weiss Ratings lowered shares of Purple Biotech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, July 16th. Zacks Research upgraded Purple Biotech from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Purple Biotech Price Performance

PPBT opened at $1.39 on Friday. The company has a market capitalization of $1.29 million, a price-to-earnings ratio of -0.07 and a beta of 0.68. The firm’s fifty day moving average price is $1.96 and its two-hundred day moving average price is $3.82. Purple Biotech has a 1 year low of $1.33 and a 1 year high of $24.00.

Purple Biotech (NASDAQ:PPBT) last posted its earnings results on Saturday, May 16th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.29. As a group, equities analysts anticipate that Purple Biotech will post -5.31 EPS for the current year.

Institutional Investors Weigh In On Purple Biotech

An institutional investor recently bought a new stake in Purple Biotech stock. Virtu Financial LLC bought a new position in shares of Purple Biotech Ltd. Sponsored ADR (NASDAQ:PPBT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,993 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.38% of Purple Biotech as of its most recent SEC filing. Institutional investors own 9.64% of the company’s stock.

About Purple Biotech

Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks the interactions of carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage.